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February 8, 2025
UAE: New insurance rules “Direct payments, claim payouts start February 15”
From February 15, 2025, insurance customers in the UAE will have to make direct payments to insurers instead of going through brokers as new industry regulations come into effect. Source: Khaleej times
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Bilal Jarjour
February 8, 2025
Egypt: FRA allows establishment of more than one ins fund
The Financial Regulatory Authority has decided to allow the establishment of more than one private insurance fund in the same entity to which the fund members belong. Source: أموال الغد
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Bilal Jarjour
February 8, 2025
Egypt: Financial Supervision Authority issues new regulations to regulate the investment of insurance companies’ funds
The Board of Directors of the Financial Regulatory Authority (FRA) issued Resolution No. 2 of 2025, which defines the rules and controls governing the investment of insurance and reinsurance companies’ funds, with the aim of enhancing the efficiency of investment management and ensuring the best returns within a framework of financial control and governance. Source:…
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Bilal Jarjour
February 8, 2025
Political violence rates expected to increase in 2025
According to Gallagher’s Middle East and Africa Insurance Market Update 2025 Outlook, published, rates for political violence (PV) coverage are expected to moderately increase this year, as geopolitical tensions and economic uncertainties persist. Source: Middle East Insurance Review
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Bilal Jarjour
February 6, 2025
Lebanon: Syndicate of Hospitals discusses hospitalization fees with ins cos
In Lebanon, a meeting was held at the Syndicate of Hospitals between the Syndicate, headed by Engineer Suleiman Haroun, and the President of ACAL, Mr. Asaad Mirza, and representatives of insurance companies and TPAs. They discussed: “the percentage of increase demanded by the Syndicate on hospitalization fees paid by companies, after the increase in actual…
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Bilal Jarjour
February 6, 2025
Egypt: The Impact of the Decision to Increase the Minimum Capital of Insurance Companies
The President of the Egyptian Insurance Federation sees that any increase in the capital of companies shall strengthen their financial position and contribute to attracting investments in the insurance sector. Source: Al Morakeb
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Bilal Jarjour
February 6, 2025
Iraq: Regulator launches weather-based index insurance policy
The Insurance Bureau (Diwan), the insurance regulatory body in Iraq, announced the implementation of the pilot project for climate risk insurance, which is the first of its kind in Iraq and the region. Source: Al Morakeb
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Bilal Jarjour
February 6, 2025
MEA Reinsurance market set for rising demand and growth in 2025
The MEA region is poised for economic and (re)insurance market growth in 2025, driven by diversification efforts, infrastructure investments and rising demand for insurance and reinsurance solutions. Source: Middle East Insurance Review
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Bilal Jarjour
February 4, 2025
AM Best: Addressing California’s wildfire losses and the urgent need for insurance market reform
While the immediate destruction caused by the wildfires is severe, the experts emphasized that the broader challenges facing California’s insurance market go far beyond the current crisis. Source: Reinsurance News
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Bilal Jarjour
February 4, 2025
UAE: Market premiums register 21% hike in 2024
In 2024, the UAE maintained its regional leadership in the financial sector and vital initiatives were introduced setting the stage for a brighter future ahead, said the Central Bank of the UAE (CBUAE) in a statement last week. Source: Middle East Insurance Review
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